EFAA Response

Response to the Monitoring Group Consultation Paper Strengthening the Governance and Oversight of the International Audit-related Standard-setting Boards in the Public Interest

EFAA is pleased to provide its comments to the Consultation Paper Strengthening the Governance and Oversight of the International Audit-related Standard-setting Boards in the Public Interest. We welcome the Monitoring Group's (MG) initiative to strengthen international standard setting and the ultimate objectives of this endeavour. Below you will find 'Key Points' and our responses to the specific questions and options presented in the consultation paper. We focus our remarks on those issues most relevant to the SMP and SME constituencies that we represent and on which we have significant experience and expertise. Relevant to this consultation is the fact that EFAA is a long-standing member of the Consultative Advisory Groups (CAGs)of the standard setting boards (SSBs) IAASB, IESBA and IAESB.